The income statement for the RUN-93570 company, an atletic shoe retailer, for the first quarter of the year is presented below: RUN-93570 Income Statement $255,200 98,600 156,600 Sales Cost of goods sold Gross margin Selling and administrative expenses Selling Administration Net operating income $87,800 30,104 117,904 $ 38,696 On average, an athletic shoe sells for $88. Variable selling expenses are $22 per athletic shoe, and the remaining selling expenses are fixed. The variable administrative expenses are 2% of sales with the remainder being fixed. How much is the total contribution margin for RUN-93570 for the first quarter? Multiple Choice $87,696 $250,096 $191,400 $186 296